United States e-commerce company eBay Inc will continue to run its electronic payment tool PayPal independently in China.

Meg Whitman, eBay president and CEO said "We will see what the right thing to do here is, and I am aware of some pending government regulation around the need to find a local partner for a financial-services product. Whitman stressed that eBay is committed to PayPal China, and will continue to operate under present arrangements.

EBay contributed US$40 million in cash, apart from its EachNet asset, while TOM Online offered US$20 million in financing for the 51 percent stake. Whitman said she was "quite comfortable" with the terms as TOM Online will also contribute local management expertise, technology, and, importantly, traffic to the new online marketplace.

The eBay EachNet Website will close next year when the new site is ready.

Source:未知